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Tokio Marine to repurchase 12.5 million shares

Tokio Marine Holdings Inc. plans to repurchase up to 12.5 million shares for up to ¥50 billion.

The shares represent about 1.7% of the company's total issued shares, according to a May 18 release.

Tokio Marine will repurchase the shares from June 1 to Sept. 20. The exercise will allow the company to implement flexible financial policies.

As of May 17, US$1 was equivalent to ¥110.82.